Chapter 5 Homework - October 6, 2010 AC 301 01 Chapter 5:...

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Chapter 5: Balance Sheet and Statement of Cash Flows Tiffany Watt Homework October 6, 2010 AC 301 – 01   Brief Exercises BE5-4 ADAM ANT COMPANY BALANCE SHEET DECEMBER 31, 2007 Property, plant, and equipment Land $61,0 00 Buildings $207,00 0 Less: Accumulated depreciation 45,00 0 162,0 00 Timberland 70,0 00 Equipment 190,00 0 Less: Accumulated depreciation 19,00 0 171,0 00 Total property, plant, and equipment $464,0 00 BE5-11 ADAM ANT COMPANY BALANCE SHEET DECEMBER 31, 2007 Stockholders' equity Paid in on capital stock Preferred $172,0 00 Common 55,0 00 Additional paid-in capital 174,0 00 $401,0 00 Retained earnings 114,0 00 Total stockholders' equity $515,0 00
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Chapter 5: Balance Sheet and Statement of Cash Flows Tiffany Watt Homework
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Unformatted text preview: October 6, 2010 AC 301 01 Chapter 5: Balance Sheet and Statement of Cash Flows Tiffany Watt Homework October 6, 2010 AC 301 01 Exercises E5-9 a) ALLESSANDRO SCARLATTI COMPANY BALANCE SHEET (PARTIAL) DECEMBER 31, 2007 Current Assets Cash $35,102 Accounts receivable $90,824 Less: Allowance for doubtful accounts 7,0 00 83,8 24 Inventories 174,7 80 Prepaid expenses 9,0 00 Total current assets $302,70 6 Current Liabilities Accounts payable $115,00 0 Notes payable 55,7 06 Total current liabilities $170,70 6 b) The adjustments made to Allesandro Scarlatti Companys balance sheet will increase the companys retained earnings....
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This note was uploaded on 09/01/2011 for the course BUSINESS 101 taught by Professor - during the Spring '11 term at Mississippi Valley State University.

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Chapter 5 Homework - October 6, 2010 AC 301 01 Chapter 5:...

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